Maternity Wear Market In Europe To Propel Due To Rising Population And Increased Spending Capacity
Europe is witnessing a steady rise in its population creating ample opportunities for infant and maternity products. Maternity wear encompasses clothes designed for expectant mothers to accentuate their changing body and feel comfortable during pregnancy. It aims to provide stretch, support, and coverage to the baby bump. The tops come in various styles like dress, tops, tunics to be paired with pants or leggings. Healthcare experts recommend regular exercise and proper fitting clothes for pregnant women. This drives the sales of stylish yet comfortable maternity clothes in the region.
The global Europe maternity wear market is estimated to be valued at US$ 432 Mn in 2023 and is expected to exhibit a CAGR of 49% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The Europe maternity wear market is projected to observe impressive growth owing to rising population and increased spending capacity. According to Eurostat, about 5.1 million babies were born in 2021 in the EU marking a 0.9% increase from the previous year. Moreover, the current birth rate in many Western European nations is around 10 births per 1000 population spurring sales of infant and baby products. This substantial increase in newborn population annually acts as a major driver for the maternity wear industry.
Another pivotal factor propelling market revenue is the improving purchasing power of consumers. As more women join the workforce and dual-income households emerge, discretionary expenditure on lifestyle and fashion has enhanced tremendously. Women are now willing to spend on comfort yet stylish maternity clothing rather than concealed basic clothes. Leading companies launching premium yet reasonably priced collection targeting urban millennial moms will fuel market growth over the next eight years.
SWOT ANALYSIS
Strength: The Europe maternity wear market benefits from high disposable incomes and increasing fashion consciousness among consumers in the region. Pregnancy fashion is gaining popularity as it allows women to dress comfortably yet stylishly during their pregnancy. Furthermore, availability of various designs, styles and sizes caters well to the changing needs of expectant mothers.
Weakness: Maternity clothing tends to be more expensive compared to regular apparel due to specialized designs. This can reduce affordability for some customers. Additionally, maternity fashion trends and consumer preferences evolve rapidly, requiring brands to launch new collections frequently. This entails heavy investment and inventory risks.
Opportunity: Rising number of working women and dual income households in Europe are boosting discretionary spending on premium maternity wear. Social media influence is also playing a rolewhere celebrity endorsements generate excitement around new collections. Furthermore, growing male participation in child rearing has opened opportunities for men's maternity lines as well.
Threats: Intense competition from established global brands and fast fashion retailers poses pricing pressure. Additionally, economic slowdowns can reduce discretionary spending on clothing categories like maternity fashion.
KEY TAKEAWAYS
The Europe maternity wear market scope is expected to witness consistent growth driven by increasing female labor force participation and rising dual income households. The global Europe maternity wear market is estimated to be valued at US$ 432 Mn in 2023 and is expected to exhibit a CAGR of 49% over the forecast period 2023 to 2030.
The United Kingdom currently dominates the region accounting for over 30% market share led by major retailers like Gap, H&M and Mothercare. Germany and France also have sizable maternity wear markets supported by robust fashion industries and strong birth rates nationally.
Key players operating in the Europe Maternity Wear Market are BASF SEChembond Chemicals Limited, GE Water and Process Technologies, Kurita Water Industries Ltd., Ion Exchange, Kemira Oyj, AkzoNobel N.V., Solenis, Thermax Ltd., Veolia Water Technologies, Accepta Advanced Environmental Technologies, Hubbard-Hall Inc, Beckart Environmental, Ecolab Incorporated.
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